You are planning the audit of Outdoor Toys Inc. (OTI), a company that manufactures playground and outdoor toys. The equipment is manufactured in Windsor, Ontario, and the company has three distribution centres located across Canada. The CFO has provided you with a data file of the finished goods inventory. The file contains the following information:

Item number
Quantity on hand
Unit cost
Extended cost
Current Selling price
Product line code
Number of units sold year to date
Date of last sale
Number of items returned year-to-date
Required

Describe five substantive auditing procedures that you may consider performing with generalized audit software (GAS), using the information in the data file outlined above. The substantive auditing procedures described may indicate that the reports should be printed out for follow-up with subsequent manual procedures.

Indicate whether a subsequent manual follow-up procedure is necessary. If a manual procedure is necessary, provide a description of it.

For each substantive audit procedure, provide the audit assertion tested.
Use the following table to complete your solution:

Substantive audit
procedure using GAS
[Part (a)] Description of
subsequent manual
follow-up, if required
[Part (b)] Related assertion
being tested
[Part (c)]